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June 4.docx

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Department
Social Science
Course
SOSC 1000
Professor
Terry Conlin
Semester
Summer

Description
June 4/13  the right are happy with what seems like the fall of Keynesiasm....welfare state is a problem  orthodox Marxism: gov't is a tool of the bourgeoisie....  1970s welfare state not thinking revolution satisfied with capitalism's rise  left view: Keynesiasm is saving capitalism from itself  neo Marxist view: state enjoys relative economy...the state and the capitalist class is closely align but the state enjoys autonomy  3 function state performs neo Marxist view: accumulation, legitimation, and coercion  accumulation: private capital needs to maximize profits...state does this through policies  accumulation function: what the state is going to do to make Canada a more profitable place to invest ex. hydro company created in Canada 1905 to attract investors to Canada  legitimation function: the state reconciling the victims of capitalism to the system that exploits them eg. old age pensions, the baby bonus, student loans etc.  early 1970s contradiction between legitimation and accumulation.....the fiscal crises of the state is the problem now  coercion: when accumulation and legitimation don't work...the state has a monopoly on legal use of coercion through police, army...state will use the coercion to maintain public peace  lock outs: when capital goes on strike  keynesiasm ran into difficulties because it couldn't sustain the contradictions between accumulation and legitimation  Marilyn Waring has influenced stats Canada in the surveys they take to determine the unemployment levels in Canada and universities....female students don't look at economics through keynesian perspective...gdp... they see it through waring's eyes which is time NAIRU: NON-ACCELERATING INFLATION RATE OF UNEMPLOYMENT  Work: Russell: only two kinds of work....1. consists of altering the position of matter 2. consists of telling others to do stuff...he argues that first type of work has three primary characteristics...it tends to be unpleasant, poorly paid, and dangerous...the second type of work tends to be pleasant, well paid, and usually quite safe.....it isn't work but pleasure thats allowed for the development of civilisation  Work: Adam Smith: work is an activity requiring the worker to give up his tra
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